Needham & Company LLC Issues Pessimistic Forecast for Stratasys (NASDAQ:SSYS) Stock Price

Key Points

• Needham & Company LLC has lowered the price target for Stratasys (NASDAQ:SSYS) from $15.00 to $13.00, maintaining a "buy" rating, which indicates a potential upside of 34.74% from its previous close.
• Stratasys shares fell 15.1% on Wednesday, trading at $9.65, with a one-year low of $6.05 and a high of $12.88.
• Institutional ownership of Stratasys is strong, with approximately 75.77% of the stock held by institutional investors, reflecting significant confidence in the company's future.

Stratasys (NASDAQ:SSYS - Free Report) had its target price decreased by Needham & Company LLC from $15.00 to $13.00 in a report issued on Wednesday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the technology company's stock.

Separately, Wall Street Zen raised shares of Stratasys from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Stratasys has an average rating of "Moderate Buy" and a consensus price target of $12.20.

Stratasys Stock Performance

Shares of NASDAQ:SSYS traded down $0.08 during midday trading on Wednesday, reaching $9.32. The company's stock had a trading volume of 544,899 shares, compared to its average volume of 544,433. The firm has a market capitalization of $791.45 million, a price-to-earnings ratio of -6.96 and a beta of 1.57. Stratasys has a fifty-two week low of $6.05 and a fifty-two week high of $12.88. The firm has a 50 day moving average price of $10.89 and a two-hundred day moving average price of $10.52.

Stratasys (NASDAQ:SSYS - Get Free Report) last announced its quarterly earnings data on Wednesday, August 13th. The technology company reported $0.03 EPS for the quarter, hitting the consensus estimate of $0.03. The company had revenue of $138.09 million during the quarter, compared to the consensus estimate of $137.15 million. Stratasys had a negative net margin of 17.42% and a negative return on equity of 1.06%. The company's quarterly revenue was up .1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.04) EPS. As a group, research analysts anticipate that Stratasys will post -0.4 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Formidable Asset Management LLC boosted its holdings in Stratasys by 4.1% in the fourth quarter. Formidable Asset Management LLC now owns 24,545 shares of the technology company's stock valued at $218,000 after acquiring an additional 965 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in Stratasys by 10.4% in the fourth quarter. Hsbc Holdings PLC now owns 16,664 shares of the technology company's stock valued at $148,000 after acquiring an additional 1,564 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in Stratasys by 4.3% in the second quarter. Janney Montgomery Scott LLC now owns 53,023 shares of the technology company's stock valued at $608,000 after acquiring an additional 2,172 shares in the last quarter. OMERS ADMINISTRATION Corp boosted its holdings in Stratasys by 9.4% in the second quarter. OMERS ADMINISTRATION Corp now owns 28,000 shares of the technology company's stock valued at $321,000 after acquiring an additional 2,400 shares in the last quarter. Finally, Harbor Capital Advisors Inc. boosted its holdings in Stratasys by 28.0% in the second quarter. Harbor Capital Advisors Inc. now owns 13,670 shares of the technology company's stock valued at $157,000 after acquiring an additional 2,991 shares in the last quarter. Institutional investors own 75.77% of the company's stock.

Stratasys Company Profile

Stratasys Ltd. provides connected polymer-based 3D printing solutions. It offers range of 3D printing systems, which includes polyjet printer, Fused Deposition Modeling (FDM) printers, stereolithography printing systems, origin P3 printers, and selective absorption fusion printer for additive manufacturing, and tooling and rapid prototyping for various vertical markets, such as automotive, aerospace, consumer products and healthcare.